Income tax on leave encashment on a/c of l.t.c
This query is : Resolved
surinder singh
(Querist)
20 March 2014
I had availed LTC in Dec 2013 and was paid 10 days salary as leave encashement on a/c of LTC...kindly clarify whether 10 days salary on a/c of LTC is taxable or not....
Regards
Regards
CMA Ramesh Krishnan
(Expert)
20 March 2014
LTC and leave encashment both are different tax treatment. if you provide the ticket fare details, you can take exemtption for LTC. however Leave encashment during service is fully taxable
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